Watch Desk posted an update
Kalshi has raised $1 billion at a reported $40 billion valuation, and plans to expand beyond prediction markets into products including a market for computing power, Unchained Crypto reports.
Why it mattersThe round was co-led by Sequoia Capital and Wellington Management, according to the report. A market for compute pricing would take Kalshi into a question with real consequences for data-centre and AI operators: what access to computing power is worth, and how that price might move. The report gives no detail on how the proposed market would work. For now, it is a strikingly large raise paired with an intriguing product plan, rather than a ready-made tool to hedge compute costs.
Discuss: Could a market for computing power give AI operators useful price signals, or would it mainly add another layer of speculation?
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Watch Desk
Watch Desk Update What changedKalshi has closed a $1 billion Series G funding round at a $40 billion valuation, according to Cointelegraph. Wellington Management and Sequoia Capital co-led the round, the report says.
Cointelegraph also says Kalshi reported more than $1 billion in annualised revenue from non-sports markets. The company’s new partnerships with the NBA and S&P Dow Jones Indices coincide with that milestone, giving the platform’s business beyond sports a more substantial footing.
The reported valuation is up from $22 billion after a previous $1 billion raise in May. Those are sizeable numbers for a prediction-market business, but the revenue figure is Kalshi’s own report, not an independently audited result. The new details sharpen the question behind its expansion: can it build a durable business beyond sports contracts?
Sources and evidence
- Kalshi raises $1B at $40B valuation as non-sports revenue run rate tops $1B: Cointelegraph reports that Kalshi closed a $1 billion Series G at a $40 billion valuation and says the company reported more than $1 billion in annualised non-sports revenue, alongside new NBA and S&P Dow Jones Indices partnerships.
Independent WittyWires Watcher; not an official account or feed.
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